Gilat Satellite Networks Ltd. · NASDAQ:GILT
Gilat Satellite Networks — Investor Day (March 2024)
25 slides from Gilat Satellite Networks's investor day presentation, Mar 6, 2024
Slide 1: Leading Satellite Communications in the New Space Revolution
Leading Satellite Communications in the New Space Revolution Gilat Satellite Networks Investors Day March 2024
Slide 2: Forward Looking Statements Disclaimer
Forward Looking Statements Disclaimer Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify
Slide 3: A World Leader in Satellite Communications
A World Leader in Satellite Communications Innovative Ground Equipment 1987 Founded 7 R&D Centers 3 NOC Centers GILT NASDAQ /TASE 16 Sales Offices ~1,200 Employees Cellular Backhaul 2G 3G 4G 5G Enterprise Telecom Infrastructure & Services Consumer Aero / IFC Maritime Land Defense Government Social I
Slide 4: Leading Global Customer Base
Leading Global Customer Base Satellite Operators Service Providers & MNO’s System Integrators 100+ Countries 300+ Customers Hundreds of Networks
Slide 5: VHTS/NGSO Constellations - Abundance of Capacity
VHTS/NGSO Constellations - Abundance of Capacity Large Capital Spending in Satellite Industry GEO 35,786 km ~550msec MEO 2,000-10,000 km ~120msec LEO 500-2,000 km ~15msec Gilat Proprietary and Confidential More Than 50,000 LEO Satellites Expected Within a Decade; Investment Over $30 Billion HTS/VHTS
Slide 6: GEO and MEO Upcoming Launches
2024 2025 2026 Gilat Opportunity Others HTS-113BT Koreasat 6A G-Sat32 G-Sat20 Astranis 3,5,4,8,9 O3b mPower 7-8 Turksat 6A Viasat 3 Asia Viasat-3 EMEA Chinggis Sat Arabsat-7A ARSAT-SG 1 Optus 11 ASTRA 1Q O3b mPower 9-11 Astranis- 6 / UtilitySat (Arcturus backup)) Astranis 10 Superbird-9 ES XXV GX7 G
Slide 7: Main NGSO Constellations – Road Map
2023 2024 2021 Main NGSO Constellations – Road Map 2026 2027/8 IRIS2 (Gen 1) (Gen 2)
Slide 8: Traditional GEO players looking at multi orbit strategy
Increasing number of traditional GEO players looking at the multi orbit strategy to expand their business 10.3 $B Capacity and Revenue solid significant growth Source: Euroconsult
Slide 9: Uniquely Positioned to Unlock Growth Opportunities
Uniquely Positioned to Unlock Growth Opportunities IFC, Maritime, Cellular Backhaul, Enterprise, Social Inclusion VHTS & NGSO Constellations - Abundance of Capacity Recurring revenue model Peru Terrestrial Networks "Investment" Shifting to Operation Increased focus on military SATCOM networks Strong
Slide 10: We are Gilat
We are Gilat Anywhere on the planet and in space, we bring boundless communications Gilat Proprietary and Confidential 10 We believe in the right of all people to be Connected
Slide 11: 2023 Execution Prospects 2024
2023 Execution Prospects 2024
Slide 12: Successful Execution and Future Prospects: NGSO & VHTS
Successful Execution and Future Prospects NGSO & VHTS Satellite Operator’s Partner of Choice SkyEdge IV – Technology Leader NGSO opportunities IRIS2
Slide 13: Successful Execution and Future Prospects: Maritime, IFC, MEO
Future IFC Global Roaming Ka Network Cellular Backhaul, Cruise, Enterprise O3B mPOWER Global GEO Maritime Network supplier of Choice Future Pole-To-Pole MEO Network expansion Successful Execution and Future Prospects Future Digital Cloud Platform
Slide 14: Successful Execution and Future Prospects: GEO VHTS
Successful Execution and Future Prospects Commercial IFC, Cellular Backhaul Future Cruise, Enterprise, Business Aviation GEO VHTS Future All-Software Platform for SDS MEO and ESA HTS/VHTS SES/O3B Amazon Starlink OneWeb Iris2 Telesat
Slide 15: Successful Execution and Future Prospects: In-Flight Connectivity
New Product Introduction Successful Execution and Future Prospects First ESA Award Business, Government & Defense Aviation Future Commercial Aviation GEO and LEO In-Flight Connectivity (IFC) IFC Leadership Expanding Into more Airlines Future IFC Global Roaming Ka Network
Slide 16: Successful Execution and Future Prospects: Cellular Backhaul
Successful Execution and Future Prospects ~600 Mbps to the handset over satellite! Proven with one of the largest Asian MNO Cellular Backhauling (CBH) 75% Market share in 4G NSR & Gilat estimation, 2022
Slide 17: Successful Execution and Future Prospects: Defense & Government
Successful Execution and Future Prospects Future Synergies with DataPath; DoD and Global expansion Won Leading Military and Government Customers GLT-100; Taurus-M Future NG Modem - Gain significant share of the SCPC market Defense & Government Closed DataPath Merger
Slide 18: Successful Execution and Future Prospects: Networks Infrastructure and Services
Successful Execution and Future Prospects Amazonas Regional Project Expansion $17M 5 regions in operation 6th to start in 2024 Annual Recurring Revenues Future Increase of recurring revenues >$50M Networks Infrastructure and Services Focus on Social Inclusion projects
Slide 19: Financial Highlights
Financial Highlights
Slide 20: Q4 2023 Profit and Loss Highlights
Q4 2023 Profit and Loss Highlights US$ Millions Revenue Gross Margin Operating Expenses Operating Income Net Income / (Loss) Adj. EBITDA Operating Expenses Operating Income Net Income Q1/23 Q4/22 Q4/23 75.6 38% 26.0 2.9 3.4 9.4 23.4 6.1 6.5 Q3/23 67.6 38% 20.1 5.4 4.3 9.2 19.6 6.1 4.9 GAAP Non-GAAP
Slide 21: FY 2023 Profit and Loss Highlights
FY 2023 Profit and Loss Highlights US$ Millions Revenue Gross Margin Operating Expenses Operating Income Net Income / (Loss) Operating Expenses Operating Income Net Income 2023 GAAP 2022 266.1 39.4% 76.9 28.1 23.5 36.4 82.3 23.5 19.9 239.8 36.2% 77.0 10.0 (5.9) 25.2 73.6 13.6 10.6 Adj. EBITDA Non-GA
Slide 22: Balance Sheet Highlights
Balance Sheet Highlights US$ Millions Cash, net 1 DSO 2 Cash From Operations Equity Q1/23 Q4/22 Q4/23 Q3/23 Q2/23 95.3 63 10.0 274.7 100.3 75 13.8 265.5 87.8 63 2.0 255.0 6.2 89.7 77 250.0 16.8 87.1 72 244.1 Cash includes Cash and cash equivalents and restricted cash, net of loans DSO exclude constr
Slide 23: Executing Profitable Growth Strategy: 2024 Market Guidance
Executing Profitable Growth Strategy 2024 Market Guidance (US$ Millions) Revenues: $305M - $325M Adjusted EBITDA: $40M - $44M GAAP Operating Income: $15M - $19M
Slide 24: 2024 Market Guidance by Segment
2024 Market Guidance by Segment Annual Revenues (US$ Millions) 2021 2022 2023 2024E 2021 2022 2023 2024E Network Infrastructure and Services 2021 2022 2023 2024E $203M - $213M $52M - $57M $50M - $55M
Slide 25: Thank You
Thank You info@gilat.com Gilat.com Gilat